Is it possible to teach an AI to edit video content?
I believe the answer is yes, but the video edition is mostly programmatic. The AI part comes with detecting the right spots to cut. 


You want to detect the right portion when someone picks a wooden skittle
you want to detect when the Skittles stop moving on the ground (to detect this, also when they start moving)


These will give you timestamps on the video. The next step is to add some padding and run the drop-down frame operations in the video, which can all be done with a simple script. 

You might find this video very similar in concept, and maybe even as code source: https://youtu.be/DQ8orIurGxw

For the recognition of the objects in the video frames, there are lots of options. You might look into computer vision or object motion detection.